Broad Equity Market Tone:
- Advance/Decline Line: Modestly Higher
- Sector Performance: Most Sectors Rising
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 18.1 -4.9%
- Euro/Yen Carry Return Index 129.29 +.08%
- Emerging Markets Currency Volatility(VXY) 9.37 +.11%
- S&P 500 Implied Correlation 45.59 +.02%
- ISE Sentiment Index 106.0 +20.5%
- Total Put/Call .84 -21.5%
- NYSE Arms .62 -42.5%
Credit Investor Angst:
- North American Investment Grade CDS Index 75.25 -1.42%
- America Energy Sector High-Yield CDS Index 730.0 -.63%
- European Financial Sector CDS Index 96.13 -.5%
- Italian/German 10Y Yld Spread 252.25 -.75 basis point
- Asia Ex-Japan Investment Grade CDS Index 88.52 +.18%
- Emerging Market CDS Index 185.99 -2.08%
- iBoxx Offshore RMB China Corporate High Yield Index 154.23 +.17%
- 2-Year Swap Spread 16.0 unch.
- TED Spread 37.75 +1.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap 0.0 +.5 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 68.03 -.13%
- 3-Month T-Bill Yield 2.40% -1.0 basis point
- Yield Curve 18.0 unch.
- China Iron Ore Spot 73.5 USD/Metric Tonne +.45%
- Citi US Economic Surprise Index -3.20 +2.8 points
- Citi Eurozone Economic Surprise Index -83.2 +1.3 points
- Citi Emerging Markets Economic Surprise Index -18.6 -1.2 points
- 10-Year TIPS Spread 1.82 unch.
- .5% chance of Fed rate hike at March 20th meeting, 4.6% chance at May 1st meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +113 open in Japan
- China A50 Futures: Indicating +120 open in China
- DAX Futures: Indicating +25 open in Germany
Portfolio:
- Higher: On gains in my tech/medical/retail/biotech/industrial sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long
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